Patterson-UTI Energy expected to report fourth-quarter loss despite cost reduction efforts.

From Nasdaq: 2025-02-04 05:54:00

Patterson-UTI Energy, Inc. (PTEN) is set to report fourth-quarter earnings on Feb. 5. The Zacks Consensus Estimate predicts a loss of 10 cents per share and revenues of $1.21 billion. The company’s Q3 earnings missed estimates due to poor performance in various segments, with an average negative surprise of 30.88%.

The Zacks Consensus Estimate for PTEN’s Q4 earnings has not changed in the past week, indicating a 152.63% decline year-over-year. Despite expected revenue decreases across segments, cost reduction efforts are likely to improve the bottom line. Operating costs and expenses are predicted to decrease by 15.6%.

The Zacks model does not predict an earnings beat for PTEN this quarter. The company’s Earnings ESP is -1.27%, and it currently holds a Zacks Rank #3 (Hold). Investors may consider other energy firms like California Resources (CRC), Cheniere Energy, Inc. (LNG), and Range Resources (RRC) with positive earnings potential and strong rankings.

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Read more at Nasdaq: Patterson-UTI Energy to Post Q4 Earnings: Here’s What to Expect